Experienced investors still interested in property market: experts
Experienced investors continue to pour money into the real estate market despite the problems the COVID-19 pandemic has caused for the sector.
Most property experts said the real estate market would be able to recover after the pandemic, adding investors do not want to invest in the real estate market amid difficulties but have faith it will rebound at a certain point.
Experienced investors would see the business opportunity in the difficult period while small investors would wait for market recovery, they said.
Ha Van Thien, deputy general director of real estate firm Tran Anh Group, said in the previous real estate market crisis, investors that researched carefully found opportunities with reputable property developers.
Pham Thanh Hung, vice chairman of Cen Group, also said like many other economic sectors, the real estate sector was affected by the pandemic, so prices in this market have levelled off after a period of high prices but not reduced.
The real estate market is entering a new period only for medium and long term investors. Some projects in regions with infrastructure projects, in urban areas with full facilities and in industrial zones have growth potential, according to Hung.
Also assessing real estate prices will increase sharply in the medium and long term, Duong Duc Hien, former Director of Sales Department of Savills Vietnam, said in the past 40 years, real estate prices on the domestic market had not once decreased.
Although the market had fluctuated depending on each period, in the long term, real estate prices would always go up because the population would always be increasing while land would not expand. "People always need housing products and in addition, costs related to land are on the rise," he said.
According to the experts, the difficulties in the property market this year will contribute to market purification for sustainable development in the future. At present, the market opens up business opportunities for property investors and buyers that have real demand. The market's challenge is temporary in the short term, while opportunities on this market are in the long term.
